FXCess Broker Review 2024

FXCess is a Forex broker established in 2020 with benefits such as leverage up to 1:1000 and a vast range of 300+ trading instruments. Also, it provides access to an ECN account.

Are you interested in learning about the different aspects of this broker? Because if you are, this is the right place for you to visit! We will cover everything in detail in this comprehensive FXCess review.

Company Key Information and Regulation Licenses

FXCess is one of the lesser-known brokerages founded in 2020, headquartered in Bermuda. Here's the essential data about the company:

• Legal Name: Notesco Limited;
• Registration Number: 51491;
• Registration Address: Ground Floor, Swan Building 26 Victoria Street, Hamilton HM 12 Bermuda;
• Regulating Bodies: Financial Services Authority of Seychelles (FSA) and British Virgin Islands Financial Services Commission (BVI FSC).

Key Features and Important Specifics

To give you a quick overview of what FXCess offers, here's a summary table of its key features:

Trading Accounts; Does FXCess Offer A Demo Account?

The brokerage offers two main live account types, each suitable for different trading styles and experience levels:

Both account types have a low minimum deposit of $10, making them accessible to traders with varying capital. The choice between the two comes down to individual trading preferences and strategies. However, Muslims most likely prefer the classic because of the swap-free account.

Also, FXCess offers a demo environment for improving skills without the risk of any loss.

Sign Up and Verify Your Account on FXCess; Quick Guide

1. Visit the website (www.fxcess.com) and click the "Open Account" button;
2. Fill in the first form with email address, residential country, and create a password;
3. In the second form, choose your platform, account type, base currency, leverage, and deposit bonus;
4. Enter your full name and nationality in the 3^rd form;
5. In the last form, agree to the T&C and declare that you are not a citizen of USA.

Your account is created on the broker. For KYC verification, submit the required documents through the website.

Trading Platforms and Facilities

FXCess primarily offers the industry-leading MetaTrader 4 (MT4) platform for forex and CFD trading. MT4 is renowned for its powerful features and user-friendly interface, making it suitable for both novice and experienced traders.

The lack of variety in available trading software could be a drawback for some traders. Nevertheless, you can download MT4 for FXCess via the links below:

• Android
• iOS

Trading Spreads and Overall Costs

FXCess offers attractive pricing structures across its account types for trading. Let's take a look at the numbers in the table below:

Based on our investigations, beyond the mentioned spreads and commissions, there are no other types of fees, including inactivity, deposit, and withdrawal costs. Overall, the broker does a decent job in terms of costs.

Available Funding Methods on FXCess Broker

The broker offers 2 main account funding options for deposits and withdrawals. These two options include:

• Bank Transfers: Takes 2-5 working days for processing;
• Credit/debit cards: VISA and Mastercard with instant processing.

The available currencies for deposits include JPY, EUR, USD, and GBP. Withdrawals are processed through the same ConnectHub platform used for deposits.

FXCess currently doesn't offer e-wallet or cryptocurrency funding options, which may be a limitation for some traders.

Copy Trading Options and Investment Programs

The broker offers a Multi-Account Manager (MAM) service, which allows professional traders to manage multiple client accounts simultaneously. This feature is particularly useful for money managers and institutional clients.

While FXCess doesn't offer a traditional copy trading service like some other brokers, its MAM solution provides a way for less experienced traders to benefit from the expertise of professional traders. This brokerage offers this solution on a Personal Multi-Account Manager (PMAM) platform.

This firm offers a wide range of tradable instruments in a long list across multiple asset types:

• Forex: Over 80 currency pairs (e.g., EUR/USD, GBP/USD);
• Metals: Gold, silver, etc.;
• Indices: UK 100, Wall Street, Germany 10, and more;
• Commodities: Including US crude oil, Brent crude oil, coffee, sugar, etc.;
• Shares/Stocks: Popular companies like Apple, Google, Meta, and Microsoft;
• Futures: Futures contracts on available symbols.

With over 300 instruments available, FXCess provides ample opportunities for portfolio diversification and access to global financial markets.

Bonuses and Promotional Offers

This brokerage offers an attractive Introducing Broker (IB) Reward Program, allowing IBs to earn cash rewards for referring new active clients. The program includes:

• Monthly rewards up to $5,000;
• Tiered reward levels from Bronze to Master;
• Rewards based on referrals' net money inflow and traded lots.

In addition to the IB program, FXCess offers deposit bonuses such as:

• 100% Sharing Bonus;
• 40% Power Bonus;
• Credit Bonus.

These promotions are subject to terms and conditions, and traders should carefully review these before participating.

Support Services: Channels and Active Hours

Support is crucial in a financial firm and should be seriously considered. FXCess provides its customer services through various channels:

• Email: support@fxcess.com;
• Live Chat: Accessible through the website;
• Phone Call: +44 203 150 1111;
• Ticket Submission System: In the "Contact Us" page of the website.

The support team is available 24/5 and does not work on weekends. This is a drawback since some of the competitors provide 24/7 support.

Trust Scores and Evaluations

FXCess has received above-average reviews from traders across various platforms. However, on ForexPeaceArmy, it has received a scam notice, which will be discussed below:

• Trustpilot: 3.9/5, more than 220 reviews;
• io: 4.5/5, over 100 ratings;
• ForexPeaceArmy: Scam notice, allegedly related to the scam broker IronFX.

While the claim made by FPA does not necessarily mean that FXCess is a scam company, traders should exercise extreme caution and conduct thorough research before making any deposits.

Conclusion and Final Words

FXCess is a mid-level Forex broker with mid-tier FSC and FSA regulations and some notable benefits such as a maximum leverage of 1:1000, ECN trading account, and PMAM service.

However, that's not all that matters. While this broker has received acceptable and positive trust scores, it has got a scam notice from ForexPeaceArmy, allegedly being a branch of IronFX, which is a scam company.

Therefore, if you are willing to register on FXCess, proceed with caution and put your personal research before anything.